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EUR/USD, USD/CAD, USD/CHF Struggling for Direction as Rate Links Fray
USD/CAD, USD/CHF, and EUR/USD are breaking away from their once-strong correlation with US interest rates and yield spreads, with the relationship significantly weakening in recent weeks. This shift is evident in their subdued reaction to December's soft US inflation report, despite sharp moves in Treasury yields, suggesting that rates are no longer the dominant driver they once were. Technicals may have also played a role with failed breakouts witnessed across all three pairs. USD/CAD and USD/CHF both attempted bearish breaks of uptrend support that fizzled, while EUR/USD reversed after breaking wedge resistance. ... (full story)
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- Posted: Jan 15, 2025 6:42pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 6,738
